COURSE AIMS

Good financial management should ensure that staff in charge of delegated budgets, both for administration costs and programme expenditure, have clear guidance on the size of the budgets, what they may be used for and how far they can be varied. For many managers, the company’s financial statements remain a mystery. However, as these managers move into increasingly higher positions, discussions regarding financial performance become more regular. A basic understanding of both financial statements and project evaluation tools is a necessity in order to make rational decisions and contribute to discussions intelligently.

WHO WILL BENEFIT FROM THE COURSE?

Managers and Finance professionals who would like to gain the skills, knowledge and guidance on how to manage budget responsibilities effectively.

WHAT WILL YOU GAIN FROM THIS COURSE?

Understand the nature and structure of financial statements

Learn the major elements of financial statements

Understand the purpose of a budget

Know how to link budgets to performance indicators, organisational finance, strategies and objectives

Discover how to control, monitor and prepare human resources budget

Budget metrics and their influence on corporate strategy

Compile and interpret budgets

Managing budget variances

Gain hands-on-experience on building a budget

How to accurately report expense and return on the budget

How budgets can be used to monitor and control a business

Key components and cost factors in a budget

Techniques for appraising investment projects

Understand the principles of responsibility accounting and techniques for performance evaluation

Understand costing and break-even

Monitor and control a budget

SAMPLE COURSE CONTENT

Below is an example of the course content. The content can be ‘tailored’ to meet the exact requirements of the client.

Budgeting

What is the Budgeting Process?

How Does it Work?

Types of Budgeting

Analysis of the Different Types of Budgeting

Advantages and Disadvantages of the Different Types

Ensuring Full Management Control

Purpose and Importance of Budgets

Fundamentals of the Budgeting Process

The Budgeting Cycle

The Importance of Cost Control

Planning Revenue and Expenditure

Monitoring Plans Against Actuals

Gathering the Facts

Understanding the Business Strategy 1/2/5 Years

Building Capability

Constructing a Budget to Fit with the Organisation

Estimating Costs and Revenues

The Control Process

Updating Budgets and Forecasting

Building a Budget

Successful Forecasting

Flexible Budgeting

Zero-Based Budgeting

Counting the Cost of HR

Budget Metrics

Budgets and Return On Investment (ROI)

Budgets and Discounted Cash Flows

Budgets and Internal Rate of Return (IRR)

Financial Statements

Accounting System

Income Statement

Balance Sheet

Cash Flow Statement

Developing the Budget

Understanding Cash Flow

Forecasting and Budgeting

Types of Budgets:

Flexible Budgeting

Zero-Based Budgeting

Budget Preparation

Measuring Financial Performance

Monitoring Budget Performance

Variance Analysis

Management by Exception

Accountability and Responsibility

Cost Volume Profit Analysis (CVP)

Identifying Fixed Costs and Variable Costs

Assumptions of CVP Analysis

CVP in Budgeting Decisions

Cost Calculations

The Basic Concepts

Forecasting

Effects of Salary and Wage Increases on Overall Salary Bill

Costing of Collective Contracts

Costing of Individual Contracts

The Difference Between Fixed and Variable Costs

Direct and Indirect Costs

Understanding the ‘Break-Even’ Analysis

Company Financing

What is Equity?

Assets vs. Liabilities

The Concept of:

Acquisitions

Mergers

Protection

Valuation

Financial Crisis Management

Accountability

Importance of Accurately Collecting Data and Report Costs

Consistency in Collecting, Compiling, Storing and Reporting Data

Assets vs. Liabilities

The Concept of:

Acquisitions

Mergers

Protection

Valuation

METHODOLOGY OF TRAINING

The foundation of our training is anchored in activity-based experiential learning. This methodology takes into consideration different learning and communication styles, and more importantly language and cultural differences. It is through active participation that the adoption and application of theory is expedited.

Our training team pays careful attention to planning and designing effective instructional methods essential for the transfer of knowledge. It is the creative skill of our management trainers and consultants that reveal untapped skills of the delegates through: